Shape Memory Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Shape Memory Materials Market Applications and Technologies and is segmented by Alloy Type (Nitinol, Copper-based Alloys, Nickel-based Alloys, Niobium, Stainless Steel, and Other Alloy Types), Polymer Type (Polyethylene Terephthalate, Polyurethane Films, Polyethylene, Nylon, Polypropylene, and Other Polymer Types), Application (Actuators, Stent, Transducers, Surgical Fixation and Other Medical applications, Clothing, Valves, and Other Applications), End-user Industry (Aerospace, Automotive, Medical and Healthcare, Robotics, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Shape Memory Materials in revenue (USD million) for all the above segments.

Shape Memory Materials Market Size

Shape Memory Materials Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 10.00 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Shape Memory Materials Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Shape Memory Materials Market with other markets in Chemicals & Materials Industry

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Shape Memory Materials Market Analysis

The global shape memory materials market is expected to grow with a CAGR greater than 10% during the forecast period. One of the major factors driving the market is the increasing applications in the aerospace industry. However, the relatively low stiffness values are hindering the growth of the market studied.

  • The Medical and Healthcare industry is likely to witness the highest growth rate during the forecast period.
  • North America is likely to account for the highest share of the market studied during the forecast period.

Shape Memory Materials Market Trends

This section covers the major market trends shaping the Shape Memory Materials Market according to our research experts:

Medical and Healthcare Industry to Dominate the Market

  • Shape memory materials are widely used in medical devices owing to their properties and biocompatibility. Some of these applications include stents, drug delivery, and embolization, wound closure, etc.
  • The medical industry across the globe is increasing at a significant rate owing to the technological advancements and preference towards quality-based medical treatment. Cardiac treatments have risen at a robust rate in recent years all across the globe.
  • The technologies are being adapted from developed nations to developing nations at a fast pace. The combination of the aging population and increased life expectancy is another factor boosting the medical sector.
  • Hence, owing to these factors, the healthcare industry is likely to witness the highest market share during the forecast period.
Shape Memory Materials Market, Revenue (%), by End-user Industry, Global,  2020

North America to Dominate the Market

  • Currently, North America is the major consumer of shape-memory materials. This is primarily due to the growing medical industry in the United States and neighboring countries.
  • Additionally, the demand for shape memory polymers from the aerospace sector exhibited significant growth in the near past.
  • There has also been significant growth in the demand for shape-memory materials from Canada and Mexico for usage in industries like healthcare, aerospace, etc.
  • However, the declining automotive production in the region may slightly hinder the market growth in the region in the coming years.
  • Hence, owing to the above-mentioned factors, North America is likely to dominate the market studied during the forecast period.
Shape Memory Materials Market - Growth Rate by Region, 2021-2026

Shape Memory Materials Industry Overview

The global shape memory materials market is moderately fragmented with the market share divided among many players. Some of the key players in the market include ATI, NIPPON STEEL CORPORATION, Covestro AG, SMP Technologies Inc, and BASF SE, among others.

Shape Memory Materials Market Leaders

  1. ATI

  2. NIPPON STEEL CORPORATION

  3. Covestro AG

  4. SMP Technologies Inc

  5. BASF SE

*Disclaimer: Major Players sorted in no particular order

Shape Memory Materials Market Concentration
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Shape Memory Materials Market News

  • In April 2021, DJO, a subsidiary of Colfax Corporation, has announced that it has completed the acquisition of MedShape, Inc., a provider of shape memory surgical solutions for foot and ankle using its patented superelastic nickel titanium (NiTiNOL) shape memory alloy and shape memory polymer technologies., thereby, the acquisition has enhanced the company's shape memory solutions business.

Shape Memory Materials Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increasing Applications in Aerospace Industry
    • 4.1.2 Other Drivers
  • 4.2 Restraints
    • 4.2.1 Relatively Low Stiffness Values
    • 4.2.2 Other Restraints
  • 4.3 Industry Value-chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION

  • 5.1 Alloy Type
    • 5.1.1 Nitinol
    • 5.1.2 Copper-based Alloys
    • 5.1.3 Nickel-based Alloys
    • 5.1.4 Niobium
    • 5.1.5 Stainless Steel
    • 5.1.6 Other Alloy Types
  • 5.2 Polymer Type
    • 5.2.1 Polyethylene Terephthalate
    • 5.2.2 Polyurethane Films
    • 5.2.3 Polyethylene
    • 5.2.4 Nylon
    • 5.2.5 Polypropylene
    • 5.2.6 Other Polymer Types
  • 5.3 Application
    • 5.3.1 Actuators
    • 5.3.2 Stent
    • 5.3.3 Transducers
    • 5.3.4 Surgical Fixation and Other Medical applications
    • 5.3.5 Clothing
    • 5.3.6 Valves
    • 5.3.7 Other Applications
  • 5.4 End-User Industry
    • 5.4.1 Aerospace
    • 5.4.2 Automotive
    • 5.4.3 Medical and Healthcare
    • 5.4.4 Robotics
    • 5.4.5 Other End-User Industries
  • 5.5 Geography
    • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 ASEAN Countries
    • 5.5.1.6 Rest of Asia-Pacific
    • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
    • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 Italy
    • 5.5.3.4 France
    • 5.5.3.5 Rest of Europe
    • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
    • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%)**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 ATI
    • 6.4.2 BASF SE
    • 6.4.3 Cornerstone Research Group
    • 6.4.4 Covestro AG
    • 6.4.5 DJO (Colfax Corporation)
    • 6.4.6 DYNALLOY, Inc
    • 6.4.7 Medtronic
    • 6.4.8 Memry Corporation
    • 6.4.9 Spintech Holdings Inc.
    • 6.4.10 Johnson Matthey
    • 6.4.11 Fort Wayne Metals Research Products Corp
    • 6.4.12 SMP Technologies Inc
    • 6.4.13 EUROFLEX GmbH
    • 6.4.14 SAES Getters S.p.A.
    • 6.4.15 NIPPON STEEL CORPORATION
    • 6.4.16 xsma, Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject To Availablity
**Subject to Availability
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Shape Memory Materials Industry Segmentation

The shape memory materials market is segmented by alloy type, polymer type, application, end-user industry, and geography. By alloy type, the market is segmented into Nitinol, Copper-based Alloys, Nickel-based Alloys, Niobium, Stainless Steel, and Other Alloy Types. By polymer type, the market is segmented into Polyethylene Terephthalate, Polyurethane Films, Polyethylene, Nylon, Polypropylene, and Other Polymer Types. By application, the market is segmented into Actuators, Stent, Transducers, Surgical Fixation and Other Medical applications, Clothing, Valves, and Other Applications. By end-user industry, the market is segmented into Aerospace, Automotive, Medical and Healthcare, Robotics, and Other End-user Industries. The report also covers the market size and forecasts for the shape memory materials market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Alloy Type Nitinol
Copper-based Alloys
Nickel-based Alloys
Niobium
Stainless Steel
Other Alloy Types
Polymer Type Polyethylene Terephthalate
Polyurethane Films
Polyethylene
Nylon
Polypropylene
Other Polymer Types
Application Actuators
Stent
Transducers
Surgical Fixation and Other Medical applications
Clothing
Valves
Other Applications
End-User Industry Aerospace
Automotive
Medical and Healthcare
Robotics
Other End-User Industries
Geography Asia-Pacific China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
Geography North America United States
Canada
Mexico
Geography Europe Germany
United Kingdom
Italy
France
Rest of Europe
Geography South America Brazil
Argentina
Rest of South America
Geography Middle-East and Africa Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Shape Memory Materials Market Research FAQs

The Shape Memory Materials Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)

ATI, NIPPON STEEL CORPORATION, Covestro AG, SMP Technologies Inc and BASF SE are the major companies operating in the Shape Memory Materials Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Shape Memory Materials Market.

The report covers the Shape Memory Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shape Memory Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Shape Memory Materials Industry Report

Statistics for the 2024 Shape Memory Materials market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Shape Memory Materials analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Shape Memory Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)